Document
false0001551182 0001551182 2020-07-21 2020-07-21


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 21, 2020

EATON CORPORATION plc
(Exact name of registrant as specified in its charter)
 
 
 
 
 
Ireland
 
000-54863
 
98-1059235
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(I.R.S. Employer
Identification No.)
Eaton House,
30 Pembroke Road,
Dublin 4,
Ireland
 
D04 Y0C2
(Address of principal executive offices)
 
(Zip Code)
 
+353
1637 2900
 
(Registrant’s telephone number, including area code)
 
Not applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
 
 
 
 
 
 
Title of each class
 
Trading Symbol
 
Name of each exchange on which registered
Ordinary shares ($0.01 par value)
 
ETN
 
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ☐







Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On July 21, 2020, the Compensation and Organization Committee of the Board of Directors took action to reduce the third quarter base salaries of Craig Arnold, Chairman and Chief Executive Officer, and all other officers, including each of the Named Executive Officers, by approximately 23% and 8%, respectively.  The reductions will have retroactive effect to July 1, 2020.

On July 22, 2020, the Board of Directors took action to reduce the second quarter cash retainer for all non-employee directors by 25% to $28,125.  The Board directed that the unpaid portion of the second quarter retainer be designated to assist Eaton employees in a manner to be determined by management. 
  













SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
 
Eaton Corporation plc
 
 
 
 
Date:
July 23, 2020
By:
/s/ Nigel Crawford
 
 
 
Nigel Crawford
 
 
 
Vice President and Secretary



 v3.20.2
Cover Document
Jul. 21, 2020
Cover [Abstract]  
Entity Registrant Name EATON CORPORATION plc
Document Type 8-K
Document Period End Date Jul. 21, 2020
Entity Central Index Key 0001551182
Entity Incorporation, State or Country Code L2
Entity File Number 000-54863
Entity Tax Identification Number 98-1059235
City Area Code +353
Local Phone Number 1637 2900
Entity Address, Address Line One Eaton House,
Entity Address, Address Line Two 30 Pembroke Road,
Entity Address, City or Town Dublin 4,
Entity Address, Country IE
Entity Address, Postal Zip Code D04 Y0C2
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Ordinary shares ($0.01 par value)
Trading Symbol ETN
Security Exchange Name NYSE
Entity Emerging Growth Company false
Amendment Flag false